Anxious to exchange your gold for cash? If you've read and seen the hype by TV pitchmen and perhaps you might think that the only one being taken to the cleaners is you if you fall for it. The real story is that independent buyers who sell directly to a refinery can reimburse you the most - up to a cool 70 percent of the melt (spot) price of gold.
Here is a further cool check on charges: you can get 10% to 70% of the melt price hinged on whom you do business with. Gold merchants will recompensate you about 50% of the melt price. Pawn shops will recompensate approximately 40% o 50% of the melt price.
Enterprises that advertise on TV will pay you the least amount of cash. The average is about 33 percent, or 33 cents on the dollar. I've even read of individuals receiving as little as 10 cents on the dollar!
Before you get ripped off know the purity and weight of your gold. Pure gold is known as 24 karat gold. Gold dents easily so it is combined with other materials to harden it. 18 karat gold is 75% pure, 10 karat is 44.2% pure. If you had one ounce of 10 karat gold and the spot price was $900 then $900 x .4416 equal $397.44 worth of gold at the melt price. If you get in contact with someone willing to give you 70 percent of the melt price, they should pay you $397.44 x .70 = $278.20.
The warning is is to check other sources and write down the variant prices paid. Weigh your items and write down if they are 18 karat, 22 karat, 14 karat, etc. and their individual weights.
Gold weight is another matter where you need to beware of. There are 20 pennyweights in a troy ounce. The measure used to weigh precious metals of gold, platinum and silver, a pennyweight (abbreviated dwt.) is equal to 24 grains and there are 20 pennyweights in a Troy ounce.
Food scales are instrument measuring grams. Note that Troy Ounces: A unit of apothecary weight equal to 480 grains or one twelfth of a troy pound and Grams: A metric unit of weight equal to one thousandth of a kilogram.
If you are a bit puzzled about how to estimate your gold jewelry, find a trusted source to weigh your gold and record your results. Note that when gold prices are ramping up, you'll likely cut a better deal since the dealer is optimistic about getting even more with the rising market. Off topic: save 50% replenishing personal checks at Cool Checks
Here is a further cool check on charges: you can get 10% to 70% of the melt price hinged on whom you do business with. Gold merchants will recompensate you about 50% of the melt price. Pawn shops will recompensate approximately 40% o 50% of the melt price.
Enterprises that advertise on TV will pay you the least amount of cash. The average is about 33 percent, or 33 cents on the dollar. I've even read of individuals receiving as little as 10 cents on the dollar!
Before you get ripped off know the purity and weight of your gold. Pure gold is known as 24 karat gold. Gold dents easily so it is combined with other materials to harden it. 18 karat gold is 75% pure, 10 karat is 44.2% pure. If you had one ounce of 10 karat gold and the spot price was $900 then $900 x .4416 equal $397.44 worth of gold at the melt price. If you get in contact with someone willing to give you 70 percent of the melt price, they should pay you $397.44 x .70 = $278.20.
The warning is is to check other sources and write down the variant prices paid. Weigh your items and write down if they are 18 karat, 22 karat, 14 karat, etc. and their individual weights.
Gold weight is another matter where you need to beware of. There are 20 pennyweights in a troy ounce. The measure used to weigh precious metals of gold, platinum and silver, a pennyweight (abbreviated dwt.) is equal to 24 grains and there are 20 pennyweights in a Troy ounce.
Food scales are instrument measuring grams. Note that Troy Ounces: A unit of apothecary weight equal to 480 grains or one twelfth of a troy pound and Grams: A metric unit of weight equal to one thousandth of a kilogram.
If you are a bit puzzled about how to estimate your gold jewelry, find a trusted source to weigh your gold and record your results. Note that when gold prices are ramping up, you'll likely cut a better deal since the dealer is optimistic about getting even more with the rising market. Off topic: save 50% replenishing personal checks at Cool Checks
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